Do negative housing shocks lead to persistent changes in household attitudes toward housing and homeownership? We use the residential destruction of Germany during World War II (WWII) as a quasi-experiment and exploit the reasonably exogenous region-by-cohort variation in destruction exposure. We find that WWII-experiencing cohorts from high destruction regions are significantly less likely to be homeowners decades later, controlling for regional differences and household characteristics. Underlying this effect are changes in household attitudes toward homeownership that also extend to preferences for housing consumption, with little or no support for risk preferences, income and wealth effects, or supply-side factors.

中文翻译：

---

破碎的房屋

负面的住房冲击是否会导致家庭对住房和住房所有权的态度持续变化？我们使用二战期间德国的住宅破坏作为准实验，并利用破坏暴露中不同地区的合理外生变化。我们发现，在控制了地区差异和家庭特征的情况下，来自遭受严重破坏地区的经历过二战的人群在几十年后成为房主的可能性显着降低。这种效应的背后是家庭对住房所有权的态度的变化，这种变化也延伸到了住房消费偏好，而风险偏好、收入和财富效应或供给方因素很少或没有支持。